Top 10 Dying Industries
(Check out number 7)
By Phil Izzo
The U.S. economy is recovering from a severe recession, but some industries are unlikely to ever fully bounce back.
- Bloomberg News
- Wired telecom carriers are among the industries seen on the decline.
A new analysis by research firm IBIS Worldlooks at 10 industries that appear to be dying. The list isn’t exactly shocking, but it represents a mix of sectors that are being left behind by technology or have been hurt by cheaper overseas competition.
The biggest industry profiled by IBISWorld is wired telecom carriers, largely being supplanted by cellphones and the Internet. The dominance of the Web and digital media also puts Newspaper publishers, record stores and video-rental companies on the list. Meanwhile, photofinishing also takes its place among the top 10 dying industries thanks to the growing influence of digital photography.
Cheap imports are blamed for a decline in mills and apparel manufacturers. Companies that rent formal wear are also counted among dying industries amid both competition from abroad and lower prices making owning your own formal wear a more attractive option than renting.
The only clear recession casualty that makes the list is manufactured home dealers. The housing boom led to a surge in the industry, but now years after the bubble burst the sector has continued to struggle.
The full list is below:
|Sector||Revenue 2010 (in millions)||Decline 2000-2010||Forecast Decline 2010-2016||Establish- ments 2010||Decline 2000-2010||Forecast Decline 2010-2016|
|Wired Telecommunications Carriers||$154,096||-54.9%||-37.1%||23,474||-10.5%||-15.9%|
|DVD, Game & Video Rental||$7,839||-35.7%||-19.3%||17,369||-34.8%||-11.2%|
|Manufactured Home Dealers||$4,538||-73.7%||-62.0%||3,968||-56.7%||-58.7%|
|Video Postproduction Services||$4,276||-24.9%||-10.7%||1,789||-43.2%||-37.8%|
|Formal Wear & Costume Rental||$736||-35.0%||-14.6%||2,310||-28.5%||-17.0%|